Latvia: Lemon And Lime Market 2024

Lemon And Lime Market Size in Latvia

The Latvian lemon and lime market expanded remarkably to $X in 2022, rising by 5.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Lemon and lime consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Lemon And Lime Exports

Exports from Latvia

In 2022, approx. X tons of lemons and limes were exported from Latvia; growing by 4.2% on the previous year. Over the period under review, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 53%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, lemon and lime exports expanded rapidly to $X in 2022. In general, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -8.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 41% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for lemon and lime exports from Latvia, with a 72% share of total exports. Moreover, lemon and lime exports to Estonia exceeded the volume sent to the second major destination, Lithuania (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia totaled +11.1%.

In value terms, Estonia ($X) remains the key foreign market for lemons and limes exports from Latvia, comprising 71% of total exports. The second position in the ranking was held by Lithuania ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia totaled +9.5%.

Export Prices by Country

The average lemon and lime export price stood at $X per ton in 2022, rising by 4% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 14%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Estonia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+0.8%).

Lemon And Lime Imports

Imports into Latvia

Lemon and lime imports into Latvia totaled X tons in 2022, remaining constant against 2021 figures. The total import volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when imports increased by 22%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, lemon and lime imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 26% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Spain (X tons), Turkey (X tons) and the Netherlands (X tons) were the main suppliers of lemon and lime imports to Latvia, together comprising 72% of total imports. Germany, Poland, Lithuania, South Africa and Argentina lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +70.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lemon and lime suppliers to Latvia were the Netherlands ($X), Spain ($X) and Turkey ($X), together comprising 65% of total imports. Germany, Lithuania, Poland, South Africa and Argentina lagged somewhat behind, together comprising a further 30%.

Germany, with a CAGR of +64.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lemon and lime import price stood at $X per ton in 2022, growing by 6.9% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 22%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform